Correlation Between CurrentC Power and Touchpoint Group

Can any of the company-specific risk be diversified away by investing in both CurrentC Power and Touchpoint Group at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining CurrentC Power and Touchpoint Group into the same portfolio, which is an essential part of the fundamental portfolio management process.

By analyzing existing cross correlation between CurrentC Power and Touchpoint Group Holdings, you can compare the effects of market volatilities on CurrentC Power and Touchpoint Group and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in CurrentC Power with a short position of Touchpoint Group. Check out your portfolio center. Please also check ongoing floating volatility patterns of CurrentC Power and Touchpoint Group.

Diversification Opportunities for CurrentC Power and Touchpoint Group

0.0

Correlation Coefficient

CurrentC Power  Touchpoint Group

Pay attention - limited upside

The 3 months correlation between CurrentC and Touchpoint is 0.0. Overlapping area represents the amount of risk that can be diversified away by holding CurrentC Power and Touchpoint Group Holdings in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Touchpoint Group Holdings and CurrentC Power is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on CurrentC Power are associated (or correlated) with Touchpoint Group. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Touchpoint Group Holdings has no effect on the direction of CurrentC Power i.e., CurrentC Power and Touchpoint Group go up and down completely randomly.

Pair Corralation between CurrentC Power and Touchpoint Group

If you would invest  20.00  in CurrentC Power on December 1, 2024 and sell it today you would lose (11.05) from holding CurrentC Power or give up 55.25% of portfolio value over 90 days.

Time Period	3 Months [change]
Direction	Flat
Strength	Insignificant
Accuracy	0.0%
Values	Daily Returns

CurrentC Power  vs.  Touchpoint Group Holdings

CurrentC Power

Risk-Adjusted Performance

Good

Compared to the overall equity markets, risk-adjusted returns on investments in CurrentC Power are ranked lower than 15 (%) of all global equities and portfolios over the last 90 days. In spite of fairly uncertain fundamental indicators, CurrentC Power showed solid returns over the last few months and may actually be approaching a breakup point.

Touchpoint Group Holdings

Risk-Adjusted Performance

Very Weak

Over the last 90 days Touchpoint Group Holdings has generated negative risk-adjusted returns adding no value to investors with long positions. Despite fairly strong technical indicators, Touchpoint Group is not utilizing all of its potentials. The recent stock price confusion, may contribute to short-horizon losses for the traders.

Pair Trading with CurrentC Power and Touchpoint Group

The main advantage of trading using opposite CurrentC Power and Touchpoint Group positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if CurrentC Power position performs unexpectedly, Touchpoint Group can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Touchpoint Group will offset losses from the drop in Touchpoint Group's long position.

The idea behind CurrentC Power and Touchpoint Group Holdings pairs trading is to make the combined position market-neutral, meaning the overall market's direction will not affect its win or loss (or potential downside or upside). This can be achieved by designing a pairs trade with two highly correlated stocks or equities that operate in a similar space or sector, making it possible to obtain profits through simple and relatively low-risk investment.

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Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Stock Tickers module to use high-impact, comprehensive, and customizable stock tickers that can be easily integrated to any websites.